Troutman Sanders

OCTOBER 16, 2023

On October 11, the Federal Trade Commission (FTC) announced a new proposed rule to prohibit junk fees, which are hidden and bogus fees that can harm consumers and undercut honest businesses. On October 11, the Securities and Exchange Commission (SEC) informed the U.S. For more information, click here.

Financial services 52

Financial services Student loans Student Loans Credit Unions 52

Troutman Sanders

JANUARY 17, 2023

Federal Activities: On January 13, the Federal Trade Commission (FTC) announced that an investment advice company agreed to a proposed court consent order, requiring it to refund more than $1.2 billion in 2022. On January 11, the CFPB reached a settlement in its lawsuit against a law firm for illegal debt collection practices.

Financial services 52

Financial services Student loans Student Loans Education 52

Troutman Sanders

JANUARY 17, 2024

bankruptcy filings surged by 18% in 2023, reaching a total of 445,186 cases, up from 378,390 in 2022. On January 11, the Consumer Financial Protection Bureau (CFPB) issued guidance to consumer reporting companies to address inaccurate background check reports, as well as “sloppy” credit file sharing practices.

Financial services 52

Financial services Student loans Student Loans Trade 52

Credit Corp

MARCH 24, 2023

In 2022, virtually all asset classes saw their prices plummet, leaving investors with nowhere to hide. According to Morningstar , investor confidence in real estate soared to unprecedented heights in 2022, and it’s easy to see why. rose more than 43% as rental prices increased 11%.

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Lender Collateral Loans Trade 59

Troutman Sanders

OCTOBER 17, 2022

This letter follows Chairman Clyburn’s May 2022 letters to the NCRAs, requesting information on the companies’ efforts to respond to and resolve credit reporting inaccuracies raised by consumers during the pandemic. On October 11, U.S. On October 11, JPMorgan and Visa announced their collaboration to facilitate cross-border payments.

Financial services 52

Financial services Banks Student loans Student Loans 52

Troutman Sanders

AUGUST 16, 2022

On August 11, the Consumer Financial Protection Bureau (CFPB) stated in a circular that financial companies may violate federal consumer financial protection law when they fail to safeguard consumer data. On August 5, President Biden signed the COVID-19 Economic Injury Disaster Loan Fraud Statute of Limitations Act ( R.7334

Financial services 52

Financial services Loans Student loans Student Loans 52

Troutman Sanders

AUGUST 21, 2023

On August 17, the Federal Trade Commission (FTC) announced that fees for telemarketers accessing phone numbers on the National Do Not Call Registry will increase in fiscal year 2024, which starts on October 1. On August 11, in the case of Yuille v. For more information, click here. For more information, click here. Uphold HQ , the U.S.

Financial services 52

Financial services Banks Loans Financial Institution 52

Troutman Sanders

FEBRUARY 13, 2024

Gemini had alleged that Genesis pledged more than 61 million shares of Grayscale to secure loans, then defaulted on the loans. Genesis filed for Chapter 11 protection in January 2023 with $5.1 Despite voluntarily halting the offering of the interest feature in 2022, the company agreed to pay a $1.5 billion in debt.

Financial services 52

Financial services Student loans Student Loans Collection Agencies 52

Troutman Sanders

SEPTEMBER 18, 2023

On September 14, the Office of the Comptroller of the Currency (OCC) reported cumulative trading revenue of U.S. The second quarter trading revenue was $3.9 billion, or 31.7%, more than in the second quarter of 2022. commercial banks and savings associations of $13.7 billion in the second quarter of 2023.

Financial services 52

Financial services Trade Banks Credit Unions 52

Fico Collections

AUGUST 30, 2022

Tue, 07/19/2022 - 16:11. Tue, 08/30/2022 - 09:30. Analyze expected effects on KPIs and drill into trade-offs, including portfolio profit. See how loan pricing optimization adds value. Competitive Loan Pricing: How To Outprice (not Underprice) Rivals. JessicaButalla@fico.com. by Oliver Bastert. See all Posts.

Loans 52

Loans Trade Financial services 52

Troutman Sanders

OCTOBER 4, 2022

Federal Activities: On September 30, the Commodity Futures Trading Commission (CFTC) filed an enforcement action against crypto futures and spot market exchange Digitex and its founder and CEO Adam Todd. On September 27, CFTC Commissioner Caroline Pham delivered a keynote address at CordaCon 2022 in London. State Activities.

Financial services 52

Financial services Trade Retail Banks 52

Troutman Sanders

MAY 2, 2023

PACE loans, secured by a property tax lien on the borrower’s home, are often promoted as a way to finance clean energy improvements, such as solar panels. Previously introduced in June 2022, the bill fortified its provisions regarding national security and cybercrime — a concern top regulators continue to express about digital assets.

Financial services 52

Financial services Trade Consumer Credit Government 52

Troutman Sanders

MARCH 28, 2023

Department of Education announced that it will hold virtual public hearings on April 11-13 to receive stakeholder feedback on potential issues for future rulemaking sessions. On March 22, the SEC issued a Wells Notice to Nasdaq-traded cryptocurrency exchange Coinbase, Inc. For more information, click here. On March 23, the U.S.

Financial services 52

Financial services Student loans Student Loans Financial Institution 52

Troutman Sanders

MARCH 11, 2024

The blog post posited that closing costs significantly impact a borrower’s financial commitment and, potentially, monthly payments and identified a “noticeable increase” in closing costs, with median total loan expenses on home purchase loans increasing by 21.8% between 2021 and 2022. For more information, click here.

Financial services 52

Financial services Garnishment Lender Banks 52

Troutman Sanders

FEBRUARY 6, 2023

The class consisted of “all persons or entities that transacted in the Tokens” on Coinbase’s exchange platform between October 8, 2019 through March 11, 2022 — the class-action lawsuit filing date. The 2023 letter constitutes a follow-up response to the senators’ December 5, 2022 letter sent to Silvergate.

Financial services 52

Financial services Trade Banks Bankruptcy 52

Troutman Sanders

MAY 23, 2023

On May 18, the Consumer Financial Protection Bureau (CFPB) published “Consumer experiences with overdraft programs” — a report that synthesizes interviews and focus groups with low- and moderate-income consumers during summer 2022 to better understand their experiences with overdraft programs. For more information, click here.

Financial services 52

Financial services Banks Debtor Education 52

Troutman Sanders

MAY 16, 2022

On May 11, the U.S. Senate voted 51-50 to confirm Alvaro Bedoya as a member of the Federal Trade Commission, requiring Vice President Kamala Harris to cast the tie-breaking vote. 3d 1 (2021), and it retroactively annuls lenders’ longstanding right to revoke their option to accelerate mortgage loans after default. Engel , 37 N.Y.3d

Financial services 52

Financial services Foreclosure Lender Judgment 52

Troutman Sanders

MARCH 14, 2023

While many Buy Now, Pay Later borrowers use the product without noticeable indications of financial stress, the report finds that Buy Now, Pay Later borrowers will more likely become active users of other types of credit products like credit cards, personal loans, and student loans. For more information, click here. government.

Financial services 52

Financial services Student loans Student Loans Loans 52

Troutman Sanders

MARCH 6, 2023

While many Buy Now, Pay Later borrowers use the product without noticeable indications of financial stress, the report finds that Buy Now, Pay Later borrowers will more likely become active users of other types of credit products like credit cards, personal loans, and student loans. For more information, click here. government.

Financial services 52

Financial services Student loans Student Loans Loans 52

Troutman Sanders

DECEMBER 27, 2022

Federal Activities: On December 23, the Federal Trade Commission (FTC) issued a proposed consent order, requiring Mastercard to end a practice that allegedly forced merchants to route debit card payments through Mastercard’s payment network in violation of the Durbin Amendment to the Dodd-Frank Act and Regulation II. State Activities.

Financial services 52

Financial services Banks Trade Retail 52

Troutman Sanders

NOVEMBER 13, 2023

On November 9, the Department of Education (DOE) announced its plan to implement an oversight strategy of federal student loan servicers that provides several pathways for identifying problems that can harm borrowers, in real-time. For more information, click here. For more information, click here. For more information, click here.

Financial services 52

Financial services Manufacturing Debt Management Debtor 52

Troutman Sanders

OCTOBER 19, 2021

Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures. On October 4, the CFPB announced that the deadline to request initial forbearance for loans backed by the U.S.

Financial services 52

Financial services Student loans Student Loans Debt collector 52

Troutman Sanders

DECEMBER 19, 2023

On December 15, the Securities and Exchange Commission (SEC) denied Coinbase’s Petition for Rulemaking, which was submitted to the SEC on July 20, 2022, as “currently unwarranted.” Performance improved compared to third quarter of 2022, when 97.2% On December 11, the OCC published its 2023 Annual Report. On December 12, the U.S.

Financial services 52

Financial services Banks Debt collector Government 52

Troutman Sanders

NOVEMBER 7, 2023

On November 1, the OCC issued a bulletin to inform banks about policy guidance that applies to commercial loans to early, expansion, and late-stage companies. Before making any loan, bank management should identify the purpose of the loan and the source of repayment. For more information, click here. On November 1, the U.S.

Financial services 52

Financial services Debt collector Loans Foreclosure 52

Troutman Sanders

NOVEMBER 21, 2022

On November 17, the Consumer Financial Protection Bureau (CFPB) announced it is seeking public comment on its proposal to develop a new data set to better monitor the auto loan market. On February 25, 2022, the U.S. On November 11, the U.S. For more information, click here. For more information, click here.

Financial services 52

Financial services Banks Lender Trade 52

Troutman Sanders

AUGUST 1, 2023

For example, the bill distinguishes a “digital asset” from a “digital commodity,” empowering the Securities and Exchange Commission (SEC) to regulate the former and the Commodity Futures Trading Commission (CFTC) to regulate the latter. On July 20, Federal Trade Commission (FTC) and the U.S. For more information, click here.

Financial services 52

Financial services Financial Institution Debt collector Fair Debt Collection 52

Troutman Sanders

JANUARY 30, 2024

The report, titled “SEC Cryptocurrency Enforcement: 2023 Update,” showed that the SEC launched 46 cryptocurrency-related enforcement actions in 2023, a significant increase from 33 in 2022 and 24 in 2021. On January 24, the Federal Trade Commission (FTC) announced will host a virtual summit to discuss key developments in AI.

Financial services 52

Financial services Financial Institution Banks Credit Unions 52

Fico Collections

SEPTEMBER 23, 2022

Fri, 09/23/2022 - 11:40. Deposit pricing frameworks are necessarily more complex than loan pricing frameworks – payments don’t just flow in and out of financial institutions, they flow from back-book to front-book products, and between fixed-term and instant-access products as well. FICO Admin. Tue, 07/02/2019 - 02:45.

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Acquisition Financial Institution Banks Trade 52

Payment Savvy

JULY 23, 2023

In 2022 alone, a staggering 16.4 Type 02 – Pawnbroker in Firearms: Similar to Type 01, but it enables the licensee to operate as a pawnbroker, accepting firearms as collateral for loans. Gun Shows: These are events where various dealers gather to buy, sell, and trade firearms. Furthermore, the U.S.

Manufacturing 52

Manufacturing Government Collateral Retail 52

Credit Corp

JULY 16, 2021

This transaction should close in Q1 2022. The bank focuses on multi-family loans in New York City, particularly in buildings that are rent controlled. The partnership garners most of its revenues from so-called tier 1 tenants, which are large publicly traded companies with national footprints. business, revenue grew 4% to $1.5

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Acquisition Banks Trade Manufacturing 98

Collection Industry News

FEBRUARY 21, 2022

February 18, 2022 at 10:52 AM. 11 minute read. It is much easier to verify which Robert Smith out of more than 34,000 Robert Smiths is the one with a particular defaulted loan or outstanding credit card balance when that particular Robert Smith’s date of birth and Social Security number is used to confirm his identity.

Trade 40

Trade Law Firms Construction Government 40

Troutman Sanders

MARCH 8, 2021

Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures. Currently, any student loan debt canceled by the government can be considered taxable and levied at the borrower’s normal income tax rate.

Financial services 52

Financial services Retail Foreclosure Financial Institution 52

Fico Collections

JUNE 21, 2022

Tue, 06/21/2022 - 11:25. The project aimed to help the bank to understand and model the likely customer reactions to various offers and what the trade-offs would be when incremental changes were made to different business goals. Balancing the Trade-Offs. Meet The 2022 FICO Decisions Awards Winners! by Nikhil Behl.

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Retail Trade Banks Startups 52

Fico Collections

NOVEMBER 8, 2022

Tue, 11/08/2022 - 12:20. In the UK, trade bodies have called for fraud levels to be considered a national security threat. On loan applications, for example, the belief is strongest among 39% of South Africans, 31% of Brits and 27% of Germans. South Africa: Fraud, Identity and Digital Banking, What Consumers Think 2022.

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Banks Financial services Acquisition Financial Institution 52